Public Expenditure Minister Paschal Donohoe said the National Training Fund is in surplus due to the growth in numbers at work and increased employers' PRSI receipts.
Budget 2025 will introduce an almost €1.5 billion package over a six-year period up to 2030 to better fund research, further and higher education, skills and development and decarbonisation.
The Minister said this will include an increase in core funding to Higher Education by €150m a year with the main focus of this on meeting the funding requirements of universities.
The funding will include support for additional healthcare and veterinary places under the expressions of interest expansion programme and an increase in certain PhD stipends.
Funding for further education will support the continued growth of the craft apprenticeship system to 6,800 apprentice registrations in 2025 and skills requirements in micro, small and medium enterprises to build business for the future, as well as upskilling for the Community, Voluntary and Social Enterprise sector.
HR professionals' body CIPD in Ireland has welcoming plans to utilise the surplus accumulated at the National Training Fund.
Director Mary Connaughton said the changing workplace means upskilling is an urgent requirement for many, while the growing popularity of apprenticeships must be adequately resourced.
But she added that it is concerning there was no direct reference in today's Budget to the urgent need to provide training to cope with the growth of digitalisation and AI in the workplace.
